Los Angeles Times - Jan 26, 2010The Goldman Sachs Group, Inc. (GS)
-
Manny Korman
at
Buckingham Research GroupThe plan announced by President Obama last week would curtail high risk securities trading by commercial banks as well as their investments in hedge funds and private equity funds Analysts estimate that the proposal could slash earnings as much as 25% at a firm such as
Goldman Sachs Group Inc Industrywide, the hit to revenue could easily be in the billions
"Culturally and profit wise, this gets at what they do," Manny Korman, director of research at Buckingham Research Group in New York, said of the major Wall Street firms The industry may be justified in worrying Although administration officials stressed that they didn't want to hurt the ability of American banks to compete, experts said the proposal, if enacted, could change the face of the firms that were at the center of the financial crisis
Share:
The plan announced by President Obama last week would curtail high risk securities trading by commercial banks as well as their investments in hedge funds and private equity funds Analysts estimate that the proposal could slash earnings as much as 25% at a firm such as <span class="company">Goldman Sachs</span> Group Inc Industrywide, the hit to revenue could easily be in the billions<span class="sent"> "Culturally and profit wise, this gets at what they do," <span class="analyst">Manny Korman</span>, director of research at Buckingham Research Group in New York, said of the major Wall Street firms</span> The industry may be justified in worrying Although administration officials stressed that they didn't want to hurt the ability of American banks to compete, experts said the proposal, if enacted, could change the face of the firms that were at the center of the financial crisis...The plan announced by President Obama last week would curtail high risk securities trading by commercial banks as well as their investments in hedge funds and private equity funds Analysts estimate that the proposal could slash earnings as much as 25% at a firm such as <span class="company">Goldman Sachs</span> Group Inc Industrywide, the hit to revenue could easily be in the billions<span class="sent"> "Culturally and profit wise, this gets at what they do," <span class="analyst">Manny Korman</span>, director of research at Buckingham Research Group in New York, said of the major Wall Street firms</s
Tweet this